Market News

Midday cash livestock markets

Direct cash cattle markets are quiet. The day’s big feature should just be the distribution of the new show list. At least initially, the ready numbers look mixed, higher in Texas, lower in Colorado, Kansas, and Nebraska. Last week’s live business was light at $187 in the south, with dressed trade mostly at $294 in the north, both $3 lower than the week before. Live sales in the north ranged mainly from $186 to $188, down $2 to $4 on the week. The USDA says negotiated, formula, and contract purchases were below both the prior week and a year ago.

Last week in Missouri, feeder steers and heifers were mostly steady to $5 higher than the previous week. The USDA says the supply was light to moderate, with more sales in northern parts of the state than in the south due to heavy rain and flooding. Receipts were down on both the week and the year. 76% of the offering were feeder cattle, 52% of those were steers, and 54% of all feeder cattle weighed more than 600 pounds. Medium and Large 1 feeder steers weighing 600 to 700 pounds ranged from $240 to $298.75 and 700 to 800-pound steers sold at $230 to $273. Medium and Large 1 feeder heifers weighing 500 to 600 pounds brought $235 to $291 and 700-to-800-pound heifers were reported at $210 to $262.

Boxed beef at midday was modestly higher, with light movement. Choice was up $.23 at $308.16 and Select beef was $.55 higher at $279.74.

Cash hogs are quiet with very light opening negotiated numbers at the major direct markets. Demand seems to be very light, at least partially because of Veterans Day. Most buyers are expected to get a look at the available market ready numbers and domestic pork demand before making a big move one way or the other. Last week’s late trade was not aggressive, which could give a firm undertone to this week’s early activity.

The major direct markets were not reported due to confidentiality. The five-day rolling average for national direct barrows and gilts is $83.52, with Iowa/Southern Minnesota at $82.91 and the Western Corn Belt at $83.86.

Pork at midday was down $.11 at $102.27. Ribs were weak and bellies dropped $13.73, while loins, butts, picnics, and hams were modestly to sharply higher.